Legal Question in Banking Law in India

One of my friend took blank cheque from me to complete his sale target. I din't sign on them but later that cheque had been cleared. I ask bank to show me the copy of cheque i find that signature is totlly different. is it fruitfull to go against bank as their is lack of service. the total loss equal Rs.50000


Asked on 3/07/15, 2:46 am

2 Answers from Attorneys
J. Radhakrishnan independent Practice

You can file a suit against the bank for paying a cheque on forged signature. don't mention that you armed your friend with unsigned blank cheques.

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Answered on 3/07/15, 4:13 am
Fca Prashant Chavan Expert Edge LLP

07.03.2015

Dear Sir / Madam,

You issued the unsigned cheque to your friend who ought to have supplied a product or rendered a service to you for the value of the cheque,since your friend was to complete his / her business target.In all likelihood, since you most probably have received a product or service in lieu of the amount of the cheque, you cannot claim that you have incurred a total loss. As regards the Bank, although the teller clearing the cheque is required to exercise reasonable care and caution whilst verifying the authenticity of the A/c holder(s) signature prior to clearing a cheque for payment, the legal onus and risk lies on you first, since you issued the blank unsigned cheque to your friend, which you are legally not supposed to do. In my opinion, the Bank will absolve itself of its responsibility and will ask you to take up the matter with your friend and recover your loss from him / her.

Regards,

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Answered on 3/07/15, 9:16 am


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